Bank of Nova Scotia Sells 3,000 Shares of BELLUS Health Inc. (NASDAQ:BLU)

Bank of Nova Scotia trimmed its holdings in BELLUS Health Inc. (NASDAQ:BLUGet Rating) by 13.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,850 shares of the company’s stock after selling 3,000 shares during the quarter. Bank of Nova Scotia’s holdings in BELLUS Health were worth $174,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. National Bank of Canada FI increased its position in BELLUS Health by 10.3% in the first quarter. National Bank of Canada FI now owns 29,892 shares of the company’s stock worth $203,000 after purchasing an additional 2,800 shares during the period. Toronto Dominion Bank increased its position in BELLUS Health by 35,900.0% in the first quarter. Toronto Dominion Bank now owns 3,600 shares of the company’s stock worth $25,000 after purchasing an additional 3,590 shares during the period. Belvedere Trading LLC acquired a new stake in BELLUS Health in the second quarter worth about $96,000. Cibc World Market Inc. acquired a new stake in BELLUS Health in the first quarter worth about $98,000. Finally, Vontobel Holding Ltd. acquired a new stake in BELLUS Health in the second quarter worth about $150,000. 76.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on BLU. HC Wainwright boosted their target price on BELLUS Health from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 11th. Royal Bank of Canada boosted their target price on BELLUS Health from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, September 30th. Finally, Jefferies Financial Group boosted their price objective on BELLUS Health from $14.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, September 23rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $20.00.

BELLUS Health Stock Performance

NASDAQ BLU opened at $9.02 on Tuesday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -13.07 and a beta of 0.07. The stock’s 50 day moving average price is $9.76 and its two-hundred day moving average price is $9.60. BELLUS Health Inc. has a 52 week low of $4.98 and a 52 week high of $12.69.

About BELLUS Health

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BELLUS Health Inc, a clinical stage biopharmaceutical company, develops therapeutics for the treatment of refractory chronic cough (RCC) and other cough hypersensitivity indications. Its lead product candidate includes BLU-5937, an antagonist of the P2X3 receptor, which is in Phase II clinical trial for treatment of RCC and chronic pruritus.

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Institutional Ownership by Quarter for BELLUS Health (NASDAQ:BLU)

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